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<SEC-DOCUMENT>0000950157-08-000319.txt : 20080430
<SEC-HEADER>0000950157-08-000319.hdr.sgml : 20080430
<ACCEPTANCE-DATETIME>20080430141059
ACCESSION NUMBER:		0000950157-08-000319
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080430
FILED AS OF DATE:		20080430
DATE AS OF CHANGE:		20080430

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Capital Product Partners L.P.
		CENTRAL INDEX KEY:			0001392326
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33373
		FILM NUMBER:		08789126

	BUSINESS ADDRESS:	
		STREET 1:		3 IASSONOS STREET
		CITY:			PIRAEUS
		STATE:			J3
		ZIP:			18537
		BUSINESS PHONE:		0030 210 458 4950

	MAIL ADDRESS:	
		STREET 1:		3 IASSONOS STREET
		CITY:			PIRAEUS
		STATE:			J3
		ZIP:			18537
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>form6k.htm
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUER
<TEXT>
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STATES</font></div>
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AND EXCHANGE COMMISSION</font></div>
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D.C. 20549</font></div>
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6-K</font></div>
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OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR</font></div>
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OF THE SECURITIES EXCHANGE ACT OF 1934</font></div>
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OF REPORT: APRIL 30, 2008</font></div>
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File Number 001-33373</font></div>
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PRODUCT PARTNERS L.P.</font></div>
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of registrant&#8217;s name into English)</font></div>
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IASSONOS STREET</font></div>
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18537 GREECE</font></div>
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by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F.</font></div>
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by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1):</font></a></div>
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by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7):</font></div>
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by check mark whether the registrant by furnishing the information contained in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.</font></div>
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is marked, indicate below this file number assigned to the registrant in
connection with Rule 12g3-2(b): N/A</font></div>
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1 &#8211; Information Contained in this Form 6-K Report</font></div>
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as Exhibit I is a copy of the Omnibus Incentive Compensation Plan adopted by the
Board of Directors of Capital Product Partners L.P. on April 29,
2008.</font></div>
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to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.</font></div>
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              <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
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              </td>
              <td valign="top" width="3%" style="BORDER-BOTTOM: #ffffff solid">
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      E. Lazaridis</font></td>
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                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Title:&#160;&#160;
      Chief Executive Officer and</font></div>
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chief
      Financial Officer of Capital GP L.L.C.&#160;</font></div>
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            <tr>
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              <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
              <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dated:&#160;&#160;April
30, 2008</font></div>
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I</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">CAPITAL
PRODUCT PARTNERS L.P.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">2008
OMNIBUS INCENTIVE COMPENSATION PLAN</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>SECTION 1.&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Purpose.</font>&#160;&#160;The
purpose of this Capital Product Partners L.P. 2008 Omnibus Incentive
Compensation Plan is to promote the interests of Capital Product Partners L.P.,
a Marshall Islands limited partnership (the &#8220;Partnership&#8221;), and its unitholders
by providing incentive compensation as a way to (a)&#160;attract and retain
exceptional directors, officers, employees and consultants (including
prospective directors, officers, employees and consultants), whether a natural
Person (as defined below) or entity, to the Partnership, the General Partner (as
defined below) and their Affiliates (as defined below), including Capital
Maritime &amp; Trading Corp. (the &#8220;Organizational Limited Partner&#8221;), and the
General Partner, and (b)&#160;enable such Persons to participate in the
long-term growth and financial success of the Partnership.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>SECTION 2.&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Definitions.</font>&#160;&#160;As
used herein, the following terms shall have the meanings set forth
below:</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Affiliate&#8221; means (a)&#160;any entity
that, directly or indirectly, is controlled by, controls or is under common
control with, the Partnership or the General Partner, including Capital Ship
Management Corp. (&#8220;Capital Ship Management&#8221;) and (b)&#160;any entity in which
the Partnership or the General Partner has a significant equity interest, in
either case as determined by the Board or the General Partner.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Award&#8221; means any award that is
permitted under Section&#160;6 and granted under the Plan.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Award Agreement&#8221; means any written
agreement, contract or other instrument or document evidencing any Award, which
may, but need not, require execution or acknowledgment by a
Participant.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Award Determinations&#8221; means all
necessary and appropriate determinations with respect to any Award
including:&#160;&#160;(i)&#160;determination of the terms and conditions of any
Awards, (ii)&#160;determination of the vesting schedules of Awards and, if
certain performance conditions must be attained in order for an Award to vest or
be settled or paid, establishment of such performance conditions and
certification of whether, and to what extent, such performance conditions have
been attained, (iii) determination of whether, to what extent and under what
circumstances Awards may be settled or exercised in cash, Units, other
securities, other Awards or other property, or canceled, forfeited or suspended
and the method or methods by which Awards may be settled, exercised, canceled,
forfeited or suspended, (iv)&#160;determination of whether, to what extent and
under what circumstances cash, Units, other securities, other Awards, other
property and other amounts payable with respect to an Award shall be deferred
either automatically or at the election of the holder thereof or of the
Determining Party, (v) acceleration of the vesting or exercisability of, payment
for or lapse of restrictions on, Awards and (vi) amendment of an outstanding
Award or grant of a replacement Award for an Award previously granted under the
Plan if, in its sole discretion, the Determining Party determines that
(x)&#160;the tax consequences of such Award to the Partnership or the
Participant differ from those consequences that were expected to occur on the
date the Award was granted or (y)&#160;clarifications or interpretations of, or
changes to, tax law or regulations permit Awards to be granted that have more
favorable tax consequences than initially anticipated.</font></div>
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the Partnership.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Cash Incentive Award&#8221; shall have the
meaning specified in Section&#160;6(f).</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Change of Control&#8221; shall (a)&#160;have
the meaning set forth in an Award Agreement or (b) if there is no definition set
forth in an Award Agreement, mean, with respect to the Partnership or the
General Partner (the &#8220;Applicable Person&#8221;), any of the following
events:&#160;&#160;(a) any sale, lease, exchange or other transfer (in one
transaction or a series of related transactions) of all or substantially all of
the Applicable Person&#8217;s assets to any other Person, unless immediately following
such sale, lease, exchange or other transfer such assets are owned, directly or
indirectly, by the Applicable Person; (b) the consolidation or merger of the
Applicable Person with or into another Person pursuant to a transaction in which
the outstanding Voting Securities of the Applicable Person are changed into or
exchanged for cash, securities or other property, other than any such
transaction where (i) the outstanding Voting Securities of the Applicable Person
are changed into or exchanged for Voting Securities of the surviving Person or
its parent and (ii) the holders of the Voting Securities of the Applicable
Person immediately prior to such transaction own, directly or indirectly, not
less than a majority of the outstanding Voting Securities of the surviving
Person or its parent immediately after such transaction; and (c) a &#8220; person &#8221; or
&#8220; group &#8221; (within the meaning of Sections 13(d) or 14(d)(2) of the Exchange
Act), other than the Organizational Limited Partner or its Affiliates with
respect to the General Partner, being or becoming the &#8220; beneficial owner &#8221; (as
defined in Rules 13d-3 and 13d-5 under the Exchange Act) of more than 50% of all
of the then outstanding Voting Securities of the Applicable Person, except in a
merger or consolidation which would not constitute a Change of Control under
clause (b) above.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Code&#8221; means the United States Internal
Revenue Code of 1986, as amended from time to time, or any successor statute
thereto, and the regulations promulgated thereunder.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Common Units&#8221; means &#8220;Common Units&#8221;, as
defined in the Partnership Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Conflicts Committee&#8221; means the
conflicts committee of the Board.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Determining Party&#8221; means, with respect
to Awards granted to Participants other than Outside Director Participants, the
General Partner, and, with respect to Awards granted to Outside Director
Participants, the Board.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Employee Participants&#8221; means all
Participants other than Outside Directors.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Exchange Act&#8221; means the United States
Securities Exchange Act of 1934, as amended from time to time, or any successor
statute thereto, and the regulations promulgated thereunder.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Exercise Price&#8221; means (a)&#160;in the
case of Options, the price specified in the applicable Award Agreement as the
price-per-Unit at which Units may be purchased pursuant to such Option or
(b)&#160;in the case of UARs, the price specified in the applicable Award
Agreement as the reference price-per-Unit used to calculate the amount payable
to the Participant.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Fair Market Value&#8221; means (a)&#160;with
respect to any property other than Units, the fair market value of such property
determined by such methods or procedures as shall be established from time to
time by the General Partner and (b)&#160;with respect to the Units, as of any
date, (i) the closing price of Units (A)&#160;as reported by the NASDAQ for such
date or (B)&#160;if the Units are listed on any other national stock exchange,
as reported on the stock exchange composite tape for securities traded on such
stock exchange for such date or, with respect to each of clauses&#160;(A) and
(B), if there were no sales on such date, on the closest preceding date on which
there were sales of Units or (ii)&#160;in the event there shall be no public
market for the Units on such date, the fair market value of the Units as
determined in good faith by the General Partner.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;General Partner&#8221; means
Capital&#160;G.P. LLC.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;IRS&#8221; means the United States Internal
Revenue Service or any successor thereto and includes the staff
thereof.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;NASDAQ&#8221; means the National Association
of Securities Dealers Automated Quotations or any successor
thereto.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Option&#8221; means an option to purchase
Units from the Partnership that is granted under Section&#160;6.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Outside Director&#8221; means any member of
the Board who is not an employee of the Partnership, the General Partner or its
Affiliates.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Participant&#8221; means any director,
officer, employee or consultant (including any prospective director, officer,
employee or consultant), whether a natural Person or entity, of the Partnership,
the General Partner, Capital Ship Management, Curzon Shipbrokers Corp. (&#8220;Curzon
Shipbrokers&#8221;), Curzon Maritime Limited (&#8220;Curzon Maritime&#8221; and, together with
Curzon Shipbrokers, &#8220;Curzon&#8221;) or their Affiliates who is eligible for an Award
under Section&#160;5 and who is selected by the Board or the General Partner to
receive an Award under the Plan or who receives a Substitute Award pursuant to
Section&#160;4(e).</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Partnership Agreement&#8221; means the First
Amended and Restated Agreement of Limited Partnership of Capital Product
Partners L.P., as amended from time to time.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
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Section 6(e) that has a value set by the Determining Party (or that is
determined by reference to a valuation formula specified by the Determining
Party or to the Fair Market Value of Units), which value may be paid to the
Participant by delivery of such property as the Determining Party shall
determine, including without limitation, Units, cash, other securities, other
Awards or other property, or any combination thereof, upon achievement of such
performance goals during the relevant performance period as the Determining
Party shall establish at the time of such Award or thereafter.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Person&#8221; means any natural person,
corporation, limited partnership, limited liability company, unlimited liability
company, partnership, joint venture, trust, business association, governmental
entity or other entity.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Plan&#8221; means this Capital Product
Partners L.P. 2008 Omnibus Incentive Compensation Plan, as in effect from time
to time.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Restricted Unit&#8221; means a Unit
delivered under the Plan that is subject to certain transfer restrictions,
forfeiture provisions and/or other terms and conditions specified herein and in
the applicable Award Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Retirement&#8221; means termination of
employment after attainment of age 65.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;RUA&#8221; means a restricted unit Award
that is designated as such in the applicable Award Agreement and that represents
an unfunded and unsecured promise to deliver Units, cash, other securities,
other Awards or other property in accordance with the terms of the applicable
Award Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;SEC&#8221; means the United States
Securities and Exchange Commission or any successor thereto and shall include
the staff thereof.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Subsidiary&#8221; means any entity in which
the Partnership, directly or indirectly, possesses 50% or more of the total
combined voting power of all classes of its stock.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Substitute Awards&#8221; shall have the
meaning specified in Section&#160;4(e).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;UAR&#8221; means a unit appreciation right
Award that represents an unfunded and unsecured promise to deliver Units, cash,
other securities, other Awards or other property equal in value to the excess,
if any, of the Fair Market Value per Unit over the Exercise Price per Unit of
the UAR, subject to the terms of the applicable Award Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Units&#8221; means the Common Units of the
Partnership or such other securities of the Partnership (a)&#160;into which such
units shall be changed by reason of a recapitalization, merger, consolidation,
split-up, combination, exchange of units or other similar transaction or
(b)&#160;as may be determined by the General Partner pursuant to
Section&#160;4(d).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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</font></div>
        </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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          </div>
        </div>
        <div id="HDR">
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</font></div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>&#8220;Voting Securities&#8221; means securities of
any class of any Person entitling the holders thereof to vote in the election of
members of the board of directors or other similar governing body of the
Person.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>SECTION 3.&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Administration.</font>&#160;&#160;(a)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Authority of Board and the
General Partner.</font>&#160;&#160;The Plan shall be administered by the Board
(or such committee of the Board as may be designated by the Board from time to
time) and by the General Partner, including all necessary and appropriate
decisions and determinations with respect thereto, in accordance with its
terms.&#160;&#160;Subject to the terms of the Plan and applicable law, and in
addition to other express powers and authorizations conferred on the Board and
the General Partner by the Plan:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 90pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)&#160;&#160;the
General Partner shall have sole and plenary authority to administer the Plan
except to the extent such authority is expressly granted to the Board under
clause (ii) below, including the authority to (A) propose the aggregate number
and type of Awards which will be available from time to time for grants to
Participants, (B) designate Employee Participants, (C) determine the number and
type or types of Board Approved Awards (as defined below) to be granted to such
Employee Participants and make all other Award Determinations with respect to
Employee Participants, (D) interpret, administer, reconcile any inconsistency
in, correct any default in and supply of any omission in, the Plan and any
instrument or agreement relating to, or Award made under, the Plan,
(E)&#160;establish, amend, suspend or waive such rules and regulations and
appoint such agents as it shall deem appropriate for the proper administration
of the Plan and (F) make any other determination and take any other action that
it deems necessary or desirable for the administration of the Plan.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 90pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 90pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)&#160;&#160;the
Board shall have sole and plenary authority to (A) approve the aggregate number
and type of Awards which will be available from time to time for grants to
Participants (the &#8220;Board Approved Awards&#8221;), (B)&#160;designate Outside Director
Participants and (C)&#160;determine the number and type or types of Awards to be
granted to Outside Director Participants and make all other Award Determinations
with respect to Outside Director Participants.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 90pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 90pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iii)&#160;&#160;the
Conflicts Committee shall have authority to approve any matters relating to
Employee Participant Awards that the General Partner, in its sole discretion,
may refer to the Conflicts Committee in accordance with Section 7.16(a) of the
Partnership Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(b)&#160; &#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Decisions.</font>&#160;&#160;Unless
otherwise expressly provided in the Plan, and not withstanding any delegation of
its powers, authority or function under the Plan to a duly designated committee
of the Board, all designations, determinations, interpretations and other
decisions under or with respect to the Plan or any Award shall be within the
sole and plenary discretion of the General Partner as set forth in the Plan, may
be made at any time and shall be final, conclusive and binding upon all Persons,
including the Partnership, any Affiliate, any Participant, any holder or
beneficiary of any Award and any unitholder.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
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</font></div>
        </div>
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        </div>
        <div id="HDR">
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</font></div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(c)&#160; &#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Indemnification.</font>&#160;&#160;No
member of the Board or partner of the General Partner or employee of the
Partnership, the General Partner or any of their Affiliates (each such Person, a
&#8220;Covered Person&#8221;) shall be liable for any action taken or omitted to be taken or
any determination made in good faith with respect to the Plan or any Award
hereunder.&#160;&#160;Each Covered Person shall be indemnified and held harmless
by the Partnership against and from (i)&#160;any loss, cost, liability or
expense (including attorneys&#8217; fees) that may be imposed upon or incurred by such
Covered Person in connection with or resulting from any action, suit or
proceeding to which such Covered Person may be a party or in which such Covered
Person may be involved by reason of any action taken or omitted to be taken
under the Plan or any Award Agreement and (ii)&#160;any and all amounts paid by
such Covered Person, with the Partnership&#8217;s approval, in settlement thereof, or
paid by such Covered Person in satisfaction of any judgment in any such action,
suit or proceeding against such Covered Person; <font style="DISPLAY: inline; TEXT-DECORATION: underline">provided</font> that the
Partnership shall have the right, at its own expense, to assume and defend any
such action, suit or proceeding, and, once the Partnership gives notice of its
intent to assume the defense, the Partnership shall have sole control over such
defense with counsel of the Partnership&#8217;s choice.&#160;&#160;The foregoing right
of indemnification shall not be available to a Covered Person to the extent that
a court of competent jurisdiction in a final judgment or other final
adjudication, in either case not subject to further appeal, determines that the
acts or omissions of such Covered Person giving rise to the indemnification
claim resulted from such Covered Person&#8217;s bad faith, fraud or wilful criminal
act or omission or that such right of indemnification is otherwise prohibited by
law or by the Partnership Agreement.&#160;&#160;The foregoing right of
indemnification shall not be exclusive of any other rights of indemnification to
which Covered Persons may be entitled under the Partnership Agreement, as a
matter of law, or otherwise, or any other power that the Partnership may have to
indemnify such Persons or hold them harmless.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>SECTION 4.&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Units Available for Awards;
Other Limits.</font>&#160;&#160;(a)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Units
Available.</font>&#160;&#160;Subject to adjustment as provided in
Section&#160;4(d), the aggregate number of Units that may be delivered pursuant
to Awards granted under the Plan shall be 500,000 restricted
units.&#160;&#160;If, after the effective date of the Plan, any Award granted
under the Plan is forfeited, or otherwise expires, terminates or is canceled
without the delivery of Units, then the Units covered by such forfeited,
expired, terminated or canceled Award shall again become available to be
delivered pursuant to Awards under the Plan.&#160;&#160;If Units issued upon
exercise, vesting or settlement of an Award, or Units owned by a Participant
(which are not subject to any pledge or other security interest), are
surrendered or tendered to the Partnership in payment of the Exercise Price of
an Award or any taxes required to be withheld in respect of an Award, in each
case, in accordance with the terms and conditions of the Plan and any applicable
Award Agreement, such surrendered or tendered Units shall again become available
to be delivered pursuant to Awards under the Plan.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(b) &#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Vesting of
Awards.</font>&#160;&#160;Each Award shall be vested at such times, in such
manner and subject to such terms and conditions as the Determining Party may, in
its sole and plenary discretion, specify in the applicable Award Agreement or
thereafter.&#160;&#160;Except as otherwise specified by the Determining Party in
the Award Agreement, Awards shall become vested on the fifth anniversary of the
date of the grant.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
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        </div>
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        </div>
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        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(c)&#160; &#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Expiration of
Awards.</font>&#160;&#160;Except as otherwise set forth in the applicable Award
Agreement and subject to Section 6(b)(v), each Award shall expire immediately,
without any payment or vesting, upon either (i) the date the Participant who is
holding the Award ceases to be an officer, employee or consultant of the
Partnership or one of its Affiliates for any reason other than the Participant&#8217;s
Retirement or death, (ii) one year after the date a Director Participant who is
holding the Award ceases to be a Director by reason of such Director
Participant's resignation or removal (except for cause) or non re-election as a
Director (except for cause), (iii)&#160;six months after the date the
Participant who is holding the Award ceases to be an officer, employee or
consultant of the Partnership or one of its Affiliates by reason of the
Participant&#8217;s Retirement or (iv) six months after the date the Participant who
is holding the Award ceases to be an officer, employee or consultant of the
Partnership or one of its Affiliates by reason of the Participant&#8217;s
death.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(d)&#160; &#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Adjustments for Changes in
Capitalization and Similar Events.</font>&#160;&#160;In the event that the
General Partner determines that any dividend or other distribution (whether in
the form of cash, Units, other securities or other property), recapitalization,
unit split, reverse unit split, reorganization, merger, consolidation, split-up,
spin-off, combination, repurchase or exchange of Units or other securities of
the Partnership, issuance of warrants or other rights to purchase Units or other
securities of the Partnership, or other similar corporate transaction or event
that affects the value of the Units, then the General Partner shall (i)&#160;in
such manner as it may determine equitable or desirable, adjust (A)&#160;the
number of Units or other securities of the Partnership (or number and kind of
other securities or property) with respect to which Awards may be granted,
including (1)&#160;the aggregate number of Units that may be delivered pursuant
to Awards granted under the Plan and (2)&#160;the maximum number of Units or
other securities of the Partnership (or number and kind of other securities or
property) with respect to which Awards may be granted to any Participant in any
fiscal year of the Partnership, and (B)&#160;the terms of any outstanding Award,
including (1)&#160;the number of Units or other securities of the Partnership
(or number and kind of other securities or property) subject to outstanding
Awards or to which outstanding Awards relate and (2)&#160;the Exercise Price
with respect to any Award, (ii) if deemed appropriate or desirable by the
General Partner, make provision for a payment (in cash, Units or other property)
to the holder of an outstanding Award in consideration for the cancelation of
such Award, including, in the case of an outstanding Option or UAR, a payment
(in cash, Units or other property) to the holder of such Option or UAR in
consideration for the cancelation of such Option or UAR in an amount equal to
the excess, if any, of the Fair Market Value (as of a date specified by the
General Partner) of the Units subject to such Option or UAR over the aggregate
Exercise Price of such Option or UAR and (iii) if deemed appropriate or
desirable by the General Partner, cancel and terminate any Option or UAR having
a per Unit Exercise Price equal to, or in excess of, the Fair Market Value of a
Unit subject to such Option or UAR without any payment or consideration
therefor.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(e)&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">Substitute
Awards.</font>&#160;&#160;Awards may, in the discretion of the General Partner,
be granted under the Plan in assumption of, or in substitution for, outstanding
awards previously granted by the Partnership or any of its Affiliates or a
company acquired by the Partnership or any of its Affiliates or with which the
Partnership or any of its Affiliates combines (&#8220;Substitute
Awards&#8221;).&#160;&#160;The number of Units underlying any Substitute Awards shall
not be counted against the aggregate number of Units available for Awards under
the Plan.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
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        </div>
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        </div>
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        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(f)&#160;&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">Sources of Units Deliverable
Under Awards.</font>&#160;&#160;Any Units delivered pursuant to an Award may
consist, in whole or in part, of authorized and unissued Units or of treasury
Units.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>SECTION 5.&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Eligibility.</font>&#160;&#160;Any
director, officer, employee or consultant (including any prospective director,
officer, employee or consultant), whether a natural Person or entity, of the
Partnership, the General Partner, Capital Ship Management, Curzon or any of
their Affiliates shall be eligible to be designated a Participant in respect of
services performed, directly or indirectly, for the benefit of the Partnership
and its Subsidiaries.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>SECTION 6.&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Awards.</font>&#160;&#160;(a)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Types of
Awards.</font>&#160;&#160;Awards may be made under the Plan in the form of
(i)&#160;Options, (ii) UARs, (iii)&#160;Restricted Units, (iv) RUAs,
(v)&#160;Performance Units, (vi) Cash Incentive Awards and (vii)&#160;other
equity-based or equity-related Awards that the Determining Party determines are
consistent with the purpose of the Plan and the interests of the
Partnership.&#160;&#160;Awards may be granted in tandem with other
Awards.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(b)&#160; &#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Options.</font>&#160;&#160;(i)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Grant.</font>&#160;&#160;Subject
to the provisions of the Plan, the Determining Party shall have sole and plenary
authority to determine the Participants to whom Options shall be granted, the
number of Units to be covered by each Option and the conditions and limitations
applicable to the vesting and exercise of the Option.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 90pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Exercise
Price.</font>&#160;&#160;Except as otherwise established by the Determining
Party at the time an Option is granted and set forth in the applicable Award
Agreement, the Exercise Price of each Unit covered by an Option shall be not
less than 100% of the Fair Market Value of such Unit (determined as of the date
the Option is granted).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 90pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 90pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iii)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Vesting and
Exercise.</font>&#160;&#160;Each Option shall be vested and exercisable at such
times, in such manner and subject to such terms and conditions as the
Determining Party may, in its sole and plenary discretion, specify in the
applicable Award Agreement or thereafter.&#160;&#160;Except as otherwise
specified by the Determining Party in the applicable Award Agreement, an Option
may only be exercised to the extent that it has already vested pursuant to
Section 4(b) at the time of exercise.&#160;&#160;An Option shall be deemed to be
exercised when written or electronic notice of such exercise has been given to
the Partnership in accordance with the terms of the Award by the Person entitled
to exercise the Award and full payment pursuant to Section 6(b)(iv) for the
Units with respect to which the Award is exercised has been received by the
Partnership.&#160;&#160;Exercise of a vested Option may be for some or all of
the portion of the Option that is then exercisable and any such partial exercise
shall decrease the number of Units that thereafter may be available for sale
under the Option.&#160;&#160;The Determining Party may impose such conditions
with respect to the exercise of Options, including, without limitation, any
relating to the application of Federal or state securities laws, as it may deem
necessary or advisable.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
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        </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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          </div>
        </div>
        <div id="HDR">
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</font></div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 90pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iv)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Payment.</font>&#160;&#160;(A)&#160;&#160;No
Units shall be delivered pursuant to any exercise of an Option until payment in
full of the aggregate Exercise Price therefor is received by the Partnership,
and the Participant has paid to the Partnership an amount equal to any income
and employment taxes required to be withheld.&#160;&#160;Such payments may be
made in cash (or its equivalent) or, in the Determining Party&#8217;s sole and plenary
discretion, (1)&#160;by exchanging Units owned by the Participant (which are not
the subject of any pledge or other security interest) or (2)&#160;if there shall
be a public market for the Units at such time, subject to such rules as may be
established by the General Partner, through delivery of irrevocable instructions
to a broker to sell the Units otherwise deliverable upon the exercise of the
Option and to deliver promptly to the Partnership an amount equal to the
aggregate Exercise Price, or by a combination of the foregoing; <font style="DISPLAY: inline; TEXT-DECORATION: underline">provided</font> that the
combined value of all cash and cash equivalents and the Fair Market Value of any
such Units so tendered to the Partnership as of the date of such tender is at
least equal to such aggregate Exercise Price and the amount of any income,
employment or other taxes required to be withheld.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 90pt"></font>(B)&#160;&#160;Wherever in the Plan or
any Award Agreement a Participant is permitted to pay the Exercise Price of an
Option or taxes relating to the exercise of an Option by delivering Units, the
Participant may, if permitted by the Determining Party, and subject to
procedures satisfactory to it, in its discretion, satisfy such delivery
requirement by presenting proof of beneficial ownership of such Units, in which
case the Partnership shall treat the Option as exercised without further payment
and shall withhold such number of Units from the Units acquired by the exercise
of the Option.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 90pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(v)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Expiration.</font>&#160;&#160;Except
as otherwise set forth in the applicable Award Agreement, each Option shall
expire immediately, without any payment, upon the earlier of (A)&#160;the tenth
anniversary of the date the Option is granted and (B) either (i) the date the
Participant who is holding the Option ceases to be an officer, employee or
consultant of the Partnership or one of its Affiliates for any reason other than
the Participant&#8217;s retirement or death, (ii) one year after the date a Director
Participant who is holding the Option ceases to be a Director by reason of such
Director Participant's resignation or removal (except for cause) or non
re-election as a Director (except for cause), (iii)&#160;six months after the
date the Participant who is holding the Option ceases to be an officer, employee
or consultant of the Partnership or one of its Affiliates by reason of the
Participant&#8217;s Retirement or (iv) six months after the date the Participant who
is holding the Option ceases to be an officer, employee or consultant of the
Partnership or one of its Affiliates by reason of the Participant&#8217;s
death.&#160;&#160;In no event may an Option be exercisable after the tenth
anniversary of the date the Option is granted.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(c)&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">UARs.</font>&#160;&#160;(i)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Grant.</font>&#160;&#160;Subject
to the provisions of the Plan, the Determining Party shall have sole and plenary
authority to determine the Participants to whom UARs shall be granted, the
number of Units to be covered by each UAR, the Exercise Price thereof and the
conditions and limitations applicable to the exercise thereof.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
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</font></div>
        </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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        </div>
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</font></div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 90pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Exercise
Price.</font>&#160;&#160;Except as otherwise established by the Determining
Party at the time a UAR is granted and set forth in the applicable Award
Agreement, the Exercise Price of each Unit covered by a UAR shall be not less
than 100% of the Fair Market Value of such Unit (determined as of the date the
UAR is granted).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 90pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 90pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iii)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Exercise.</font>&#160;&#160;A
UAR shall entitle the Participant to receive an amount equal to the excess, if
any, of the Fair Market Value of a Unit on the date of exercise of the UAR over
the Exercise Price thereof.&#160;&#160;The Determining Party shall determine, in
its sole and plenary discretion, whether a UAR shall be settled in cash, Units,
other securities, other Awards, other property or a combination of any of the
foregoing.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 90pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 90pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iv)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Other Terms and
Conditions.</font>&#160;&#160;Subject to the terms of the Plan and any
applicable Award Agreement, the Determining Party shall determine, at or after
the grant of a UAR, the vesting criteria, term, methods of exercise, methods and
form of settlement and any other terms and conditions of any UAR.&#160;&#160;The
Determining Party may impose such conditions or restrictions on the exercise of
any UAR as it shall deem appropriate or desirable.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(d)&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">Restricted Units and
RUAs.</font>&#160;&#160;(i)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Grant.</font>&#160;&#160;Subject
to the provisions of the Plan, the Determining Party shall have sole and plenary
authority to determine the Participants to whom Restricted Units and RUAs shall
be granted, the number of Restricted Units and RUAs to be granted to each
Participant, the duration of the period during which, and the conditions, if
any, under which, the Restricted Units and RUAs may vest or may be forfeited to
the Partnership and the other terms and conditions of such Awards.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 90pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Transfer
Restrictions.</font>&#160;&#160;Restricted Units and RUAs may not be sold,
assigned, transferred, pledged or otherwise encumbered except as provided in the
Plan or as may be provided in the applicable Award Agreement; <font style="DISPLAY: inline; TEXT-DECORATION: underline">provided</font>, <font style="DISPLAY: inline; TEXT-DECORATION: underline">however</font>, that the
Determining Party may in its discretion determine that Restricted Units and RUAs
may be transferred by the Participant.&#160;&#160;Certificates issued in respect
of Restricted Units shall be registered in the name of the Participant and
deposited by such Participant, together with a unit power endorsed in blank,
with the Partnership or such other custodian as may be designated by the General
Partner or the Partnership, and shall be held by the Partnership or other
custodian, as applicable, until such time as the restrictions applicable to such
Restricted Units lapse.&#160;&#160;Upon the lapse of the restrictions applicable
to such Restricted Units, the Partnership or other custodian, as applicable,
shall deliver such certificates to the Participant or the Participant&#8217;s legal
representative.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 90pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 90pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iii)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Payment/Lapse of
Restrictions.</font>&#160;&#160;Each RUA shall be granted with respect to one
Unit or shall have a value equal to the Fair Market Value of one
Unit.&#160;&#160;RUAs shall be paid in cash, Units, other securities, other
Awards or other property, as determined in the sole and plenary discretion of
the Determining Party, upon the lapse of restrictions applicable thereto, or
otherwise in accordance with the applicable Award Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
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</font></div>
        </div>
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        </div>
        <div id="HDR">
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</font></div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(e)&#160; &#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Performance
Units.</font>&#160;&#160;(i)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Grant.</font>&#160;&#160;Subject
to the provisions of the Plan, the Determining Party shall have sole and plenary
authority to determine the Participants to whom Performance Units shall be
granted and the terms and conditions thereof.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 90pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Value of Performance
Units.</font>&#160;&#160;Each Performance Unit shall have an initial value that
is established by the Determining Party at the time of grant.&#160;&#160;The
Determining Party shall set, in its sole and plenary discretion, performance
periods, payment formulas and performance goals (or any other terms) which,
depending on the extent to which they are met, will determine the number and
value of Performance Units that will be paid out to the
Participant.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 90pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 90pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iii)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Earning of Performance
Units.</font>&#160;&#160;Subject to the provisions of the Plan, after the
applicable performance period has ended, the holder of Performance Units shall
be entitled to receive a payout of the number and value of Performance Units
earned by the Participant over the performance period, to be determined by the
Determining Party, in its sole and plenary discretion, as a function of the
extent to which the corresponding performance goals have been achieved and the
applicable payment formulas (or any other terms).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 90pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 90pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iv)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Form and Timing of Payment
of Performance Units.</font>&#160;&#160;Subject to the provisions of the Plan,
the Determining Party, in its sole and plenary discretion, may pay earned
Performance Units in the form of cash, Units, other securities, other Awards or
other property (or in any combination thereof) that has an aggregate Fair Market
Value equal to the value of the earned Performance Units at the close of the
applicable performance period.&#160;&#160;Such Units may be granted subject to
any restrictions in the applicable Award Agreement deemed appropriate by the
Determining Party.&#160;&#160;The determination of the Determining Party with
respect to the form and timing of payout of such Awards shall be set forth in
the applicable Award Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(f) &#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Cash Incentive
Awards.</font>&#160;&#160;Subject to the provisions of the Plan, the Determining
Party, in its sole and plenary discretion, shall have the authority to grant
Cash Incentive Awards.&#160;&#160;The Determining Party shall establish Cash
Incentive Award levels to determine the amount of a Cash Incentive Award payable
upon the attainment of performance goals (or any other terms) specified by the
Determining Party.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(g)&#160; &#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Other Unit-Based
Awards.</font>&#160;&#160;Subject to the provisions of the Plan, the Determining
Party shall have the sole and plenary authority to grant to Participants other
equity-based or equity-related Awards (including, but not limited to,
fully-vested Units) in such amounts and subject to such terms and conditions as
the Determining Party shall determine.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(h) &#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Distribution
Equivalents.</font>&#160;&#160;In the sole and plenary discretion of the
Determining Party, an Award, other than an Option, UAR or Cash Incentive Award,
may provide the Participant with distributions or distribution equivalents,
payable in cash, Units, other securities, other Awards or other property, on a
current or deferred basis, on such terms and conditions as may be determined by
the Determining Party in its sole and plenary discretion, including, without
limitation, payment directly to the Participant, withholding of such amounts by
the Partnership subject to vesting of the Award or reinvestment in additional
Units, Restricted Units or other Awards.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
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      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>SECTION 7.&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment and
Termination.</font>&#160;&#160;(a)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendments to the
Plan.</font>&#160;&#160;Subject to any applicable law or government regulation
and to the rules of the NASDAQ or any successor exchange or quotation system on
which the Units may be listed or quoted, the Plan may be amended, modified or
terminated by the Board and the General Partner at any time and in any manner
without the approval of the unitholders of the Partnership.&#160;&#160;No
modification, amendment or termination of the Plan may, without the consent of
any Participant to whom any Award shall previously have been granted, materially
and adversely affect the rights of such Participant (or his or her transferee)
under such Award, unless otherwise provided by the Determining Party in the
applicable Award Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(b)&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendments to
Awards.</font>&#160;&#160;The Determining Party may waive any conditions or
rights under, amend any terms of, or alter, suspend, discontinue, cancel or
terminate any Award theretofor granted, prospectively or retroactively; <font style="DISPLAY: inline; TEXT-DECORATION: underline">provided</font>, <font style="DISPLAY: inline; TEXT-DECORATION: underline">however</font>, that, except
as set forth in the Plan, unless otherwise provided by the Determining Party in
the applicable Award Agreement, any such waiver, amendment, alteration,
suspension, discontinuance, cancelation or termination that would materially and
adversely impair the rights of any Participant or any holder or beneficiary of
any Award theretofor granted shall not to that extent be effective without the
consent of the impaired Participant, holder or beneficiary.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(c)&#160; &#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Adjustment of Awards Upon
the Occurrence of Certain Unusual or Nonrecurring Events.</font>&#160;&#160;The
General Partner is hereby authorized to make adjustments in the terms and
conditions&#160;of, and the criteria included in, Awards in recognition of
unusual or nonrecurring events (including, without limitation, the events
described in Section&#160;4(d) or the occurrence of a Change of Control)
affecting the Partnership, any Affiliate, or the financial statements of the
Partnership or any Affiliate, or of changes in applicable rules, rulings,
regulations or other requirements of any governmental body or securities
exchange, accounting principles or law (i)&#160;whenever the General Partner, in
its sole and plenary discretion, determines that such adjustments are
appropriate or desirable, including, without limitation, providing for a
substitution or assumption of Awards, accelerating the exercisability of, lapse
of restrictions on, or termination of, Awards or providing for a period of time
for exercise prior to the occurrence of such event, (ii)&#160;if deemed
appropriate or desirable by the General Partner, in its sole and plenary
discretion, by providing for a payment (in cash, Units or other property) to the
holder of an Award in consideration for the cancelation of such Award,
including, in the case of an outstanding Option or UAR, a payment (in cash,
Units or other property) to the holder of such Option or UAR in consideration
for the cancelation of such Option or UAR in an amount equal to the excess, if
any, of the Fair Market Value (as of a date specified by the General Partner) of
the Units subject to such Option or UAR over the aggregate Exercise Price of
such Option or UAR and (iii) if deemed appropriate or desirable by the General
Partner, in its sole and plenary discretion, by canceling and terminating any
Option or UAR having a per Unit Exercise Price equal to, or in excess of, the
Fair Market Value of a Unit subject to such Option or UAR without any payment or
consideration therefor.</font></div>
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        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>SECTION 8.&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Change of
Control.</font>&#160;&#160;Unless otherwise provided in the applicable Award
Agreement, in the event of a Change of Control after the date of the adoption of
the Plan, unless provision is made in connection with the Change of Control for
(a) assumption of Awards previously granted or (b) substitution for such Awards
of new awards or similar entitlements covering equity interests in the successor
corporation or other entity in the Change of Control with appropriate
adjustments as to the number and kinds of equity interests, performance goals
and the Exercise Prices, as applicable, (i)&#160;any outstanding Options or UARs
then held by Participants that are unexercisable or otherwise unvested shall
automatically be deemed exercisable or otherwise vested, as the case may be, as
of immediately prior to such Change of Control, (ii)&#160;all Performance Units
and Cash Incentive Awards shall be paid out as if the date of the Change of
Control were the last day of the applicable performance period and &#8220;target&#8221;
performance levels had been attained and (iii)&#160;all other outstanding Awards
(i.e., other than Options, UARs, Performance Units and Cash Incentive Awards)
then held by Participants that are unexercisable, unvested or still subject to
restrictions or forfeiture, shall automatically be deemed exercisable and vested
and all restrictions and forfeiture provisions related thereto shall lapse as of
immediately prior to such Change of Control.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>SECTION 9.&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">General
Provisions.</font>&#160;&#160;(a)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Nontransferability.</font>&#160;&#160;Except
as otherwise specified in the applicable Award Agreement, during the
Participant&#8217;s lifetime each Award (and any rights and obligations thereunder)
shall be exercisable only by the Participant, or, if permissible under
applicable law, by the Participant&#8217;s legal guardian or representative, and no
Award (or any rights and obligations thereunder) may be assigned, alienated,
pledged, attached, sold or otherwise transferred or encumbered by a Participant
otherwise than by will or by the laws of descent and distribution, and any such
purported assignment, alienation, pledge, attachment, sale, transfer or
encumbrance shall be void and unenforceable against the Partnership or any
Affiliate; <font style="DISPLAY: inline; TEXT-DECORATION: underline">provided</font> that (i) the
designation of a beneficiary shall not constitute an assignment, alienation,
pledge, attachment, sale, transfer or encumbrance and (ii) the Determining Party
may permit further transferability, on a general or specific basis, and may
impose conditions and limitations on any permitted
transferability.&#160;&#160;All terms and conditions of the Plan and all Award
Agreements shall be binding upon any permitted successors and
assigns.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(b)&#160; &#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">No Rights to
Awards.</font>&#160;&#160;No Participant or other Person shall have any claim to
be granted any Award, and there is no obligation for uniformity of treatment of
Participants or holders or beneficiaries of Awards.&#160;&#160;The terms and
conditions of Awards and the Determining Party&#8217;s determinations and
interpretations with respect thereto need not be the same with respect to each
Participant and may be made selectively among Participants, whether or not such
Participants are similarly situated.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(c)&#160; &#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Unit
Certificates.</font>&#160;&#160;All certificates for Units or other securities
of the Partnership or any Affiliate delivered under the Plan pursuant to any
Award or the exercise thereof shall be subject to such stop transfer orders and
other restrictions as the Determining Party may deem advisable under the Plan,
the applicable Award Agreement or the rules, regulations and other requirements
of the SEC, the NASDAQ or any other stock exchange or quotation system upon
which such Units or other securities are then listed or reported and any
applicable laws, and the Determining Party may cause a legend or legends to be
put on any such certificates to make appropriate reference to such
restrictions.</font></div>
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        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(d) &#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Withholding.</font>&#160;&#160;A
Participant may be required to pay to the Partnership or any Affiliate, and the
Partnership or any Affiliate shall have the right and is hereby authorized to
withhold from any Award, from any payment due or transfer made under any Award
or under the Plan or from any compensation or other amount owing to a
Participant, the amount (in cash, Units, other securities, other Awards or other
property) of any applicable withholding taxes in respect of an Award, its
exercise or any payment or transfer under an Award or under the Plan and to take
such other action as may be necessary in the opinion of the General Partner to
satisfy all obligations for the payment of such taxes.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(e)&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">Award
Agreements.</font>&#160;&#160;Each Award hereunder shall be evidenced by an
Award Agreement, which shall be delivered to the Participant and shall specify
the terms and conditions of the Award and any rules applicable thereto,
including, but not limited to, the effect on such Award of the death, disability
or termination of employment or service of a Participant and the effect, if any,
of such other events as may be determined by the Determining Party.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(f)&#160; &#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">No Limit on Other
Compensation Arrangements.</font>&#160;&#160;Nothing contained in the Plan shall
prevent the Partnership or any Affiliate from adopting or continuing in effect
other compensation arrangements, which may, but need not, provide for the grant
of options, restricted units, units and other types of equity-based awards, and
such arrangements may be either generally applicable or applicable only in
specific cases.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(g)&#160; &#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">No Right to
Employment.</font>&#160;&#160;The grant of an Award shall not be construed as
giving a Participant the right to be retained as a director, officer, employee,
service provider or consultant of or to the Partnership or any Affiliate, nor
shall it be construed as giving a Participant any rights to continued service on
the Board.&#160;&#160;Further, the Partnership or an Affiliate may at any time
dismiss a Participant from employment or discontinue any consulting
relationship, free from any liability or any claim under the Plan, unless
otherwise expressly provided in the Plan or in any Award Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(h)&#160; &#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">No Rights as
Unitholder.</font>&#160;&#160;No Participant or holder or beneficiary of any
Award shall have any rights as a unitholder with respect to any Units to be
distributed under the Plan until he or she has become the holder of such
Units.&#160;&#160;In connection with each grant of Restricted Units, except as
provided in the applicable Award Agreement, the Participant shall not be
entitled to the rights of a unitholder in respect of such Restricted
Units.&#160;&#160;Except as otherwise provided in Section 4(d), Section 7(c) or
the applicable Award Agreement, no adjustments shall be made for dividends or
distributions on (whether ordinary or extraordinary, and whether in cash, Units,
other securities or other property), or other events relating to, Units subject
to an Award for which the record date is prior to the date such Units are
delivered.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(i)&#160;&#160; &#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Governing
Law.</font>&#160;&#160;The validity, construction and effect of the Plan and any
rules and regulations relating to the Plan and any Award Agreement shall be
determined in accordance with the laws of the State of New York, without giving
effect to the conflict of laws provisions thereof.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
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        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(j)&#160;&#160; &#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Severability.</font>&#160;&#160;If
any provision of the Plan or any Award is or becomes or is deemed to be invalid,
illegal or unenforceable in any jurisdiction or as to any Person or Award, or
would disqualify the Plan or any Award under any law deemed applicable by the
General Partner, such provision shall be construed or deemed amended to conform
to the applicable laws, or if it cannot be construed or deemed amended without,
in the determination of the General Partner, materially altering the intent of
the Plan or the Award, such provision shall be construed or deemed stricken as
to such jurisdiction, Person or Award and the remainder of the Plan and any such
Award shall remain in full force and effect.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(k)&#160; &#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Other
Laws.</font>&#160;&#160;The General Partner may refuse to issue or transfer any
Units or other consideration under an Award if, acting in its sole and plenary
discretion, it determines that the issuance or transfer of such Units or such
other consideration might violate any applicable law or regulation, and any
payment tendered to the Partnership by a Participant, other holder or
beneficiary in connection with the exercise of such Award shall be promptly
refunded to the relevant Participant, holder or beneficiary.&#160;&#160;Without
limiting the generality of the foregoing, no Award granted hereunder shall be
construed as an offer to sell securities of the Partnership, and no such offer
shall be outstanding, unless and until the General Partner in its sole and
plenary discretion has determined that any such offer, if made, would be in
compliance with all applicable requirements of any applicable securities
laws.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(l)&#160;&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">No Trust or Fund
Created.</font>&#160;&#160;Neither the Plan nor any Award shall create or be
construed to create a trust or separate fund of any kind or a fiduciary
relationship between the Partnership or any Affiliate, on one hand, and a
Participant or any other Person, on the other hand.&#160;&#160;To the extent
that any Person acquires a right to receive payments from the Partnership or any
Affiliate pursuant to an Award, such right shall be no greater than the right of
any unsecured general creditor of the Partnership or such
Affiliate.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(m)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">No Fractional
Units.</font>&#160;&#160;No fractional Units shall be issued or delivered
pursuant to the Plan or any Award, and the General Partner shall determine
whether cash, other securities or other property shall be paid or transferred in
lieu of any fractional Units or whether such fractional Units or any rights
thereto shall be canceled, terminated or otherwise eliminated.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(n) &#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Requirement of Consent and
Notification of Election Under Section&#160;83(b) of the Code or Similar
Provision.</font>&#160;&#160;No election under Section 83(b) of the Code (to
include in gross income in the year of transfer the amounts specified in
Section&#160;83(b) of the Code) or under a similar provision of law may be made
unless expressly permitted by the terms of the applicable Award Agreement or by
action of the Determining Party in writing prior to the making of such
election.&#160;&#160;If an Award recipient, in connection with the acquisition
of Units under the Plan or otherwise, is expressly permitted under the terms of
the applicable Award Agreement or by such Determining Party action to make such
an election and the Participant makes the election, the Participant shall notify
the Partnership of such election within ten days of filing notice of the
election with the IRS or other governmental authority, in addition to any filing
and notification required pursuant to regulations issued under
Section&#160;83(b) of the Code or other applicable provision.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
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are given to the Sections and subsections of the Plan solely as a convenience to
facilitate reference. Such headings shall not be deemed in any way material or
relevant to the construction or interpretation of the Plan or any provision
thereof.</font></div>
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words &#8220;include&#8221;, &#8220;includes&#8221; and &#8220;including&#8221; shall be deemed to be followed by
the phrase &#8220;without limitation&#8221;.</font></div>
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Plan.</font>&#160;&#160;(a)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Effective
Date.</font>&#160;&#160;The Plan shall be effective as of the date of its
adoption by the General Partner, with the approval of the Board.</font></div>
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Date.</font>&#160;&#160;No Award shall be granted under the Plan after the tenth
anniversary of the date the Plan is approved under Section
10(a).&#160;&#160;Unless otherwise expressly provided in the Plan or in an
applicable Award Agreement, any Award granted hereunder may, and the authority
of the Determining Party to amend, alter, adjust, suspend, discontinue or
terminate any such Award or to waive any conditions or rights under any such
Award shall, nevertheless continue thereafter.</font></div>
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